Solventum (NYSE:SOLV) Sees Strong Trading Volume – Should You Buy?

Solventum Co. (NYSE:SOLV) shares saw strong trading volume on Wednesday . 1,781,491 shares changed hands during mid-day trading, an increase of 82% from the previous session’s volume of 978,943 shares.The stock last traded at $68.66 and had previously closed at $69.41.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SOLV shares. Morgan Stanley increased their target price on shares of Solventum from $60.00 to $73.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Stifel Nicolaus assumed coverage on shares of Solventum in a research note on Tuesday, October 8th. They set a “buy” rating and a $82.00 price objective on the stock. Wolfe Research began coverage on Solventum in a research report on Thursday, September 26th. They issued a “peer perform” rating for the company. Piper Sandler lifted their price target on Solventum from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Mizuho began coverage on Solventum in a report on Wednesday, December 4th. They issued a “neutral” rating and a $70.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Solventum has an average rating of “Hold” and an average price target of $68.29.

Solventum Price Performance

The stock has a 50-day moving average of $69.32 and a two-hundred day moving average of $64.80. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.15 and a quick ratio of 0.83.

Hedge Funds Weigh In On Solventum

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MML Investors Services LLC lifted its position in shares of Solventum by 3.2% in the third quarter. MML Investors Services LLC now owns 5,345 shares of the company’s stock worth $373,000 after purchasing an additional 168 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Solventum by 4.2% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,966 shares of the company’s stock valued at $346,000 after buying an additional 200 shares during the period. National Bank of Canada FI grew its holdings in shares of Solventum by 4.0% during the 2nd quarter. National Bank of Canada FI now owns 6,093 shares of the company’s stock valued at $314,000 after acquiring an additional 236 shares in the last quarter. IVC Wealth Advisors LLC grew its holdings in shares of Solventum by 5.0% during the 3rd quarter. IVC Wealth Advisors LLC now owns 6,649 shares of the company’s stock valued at $464,000 after acquiring an additional 318 shares in the last quarter. Finally, KKM Financial LLC increased its stake in shares of Solventum by 7.9% in the third quarter. KKM Financial LLC now owns 4,367 shares of the company’s stock worth $304,000 after acquiring an additional 319 shares during the last quarter.

About Solventum

Solventum Corporation, a healthcare company, engages in the developing, manufacturing, and commercializing a portfolio of solutions to address critical customer and patient needs. It operates through four segments: Medsurg, Dental Solutions, Health Information Systems, and Purification and Filtration.